Business
DualEx Files 2007 Year End Results
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, April 7 /CNW/ - DualEx Energy International Inc. (the "Company")\n(DXE, TSX-V) today filed with Canadian securities authorities its 2007 Annual\nConsolidated Financial Statements and Management's Discussion and Analysis.\nCopies of the filed documents may be obtained through www.sedar.com, DualEx's\nwebsite www.dualexen.com or by emailing DualEx at [email protected].\n\n\nDuring its first full fiscal year as an independent company DualEx\nprogressed several projects to the point where 2008 is going to be very active\non the operations front. The Company anticipates drilling several potentially\nhigh impact wells across its portfolio, along with seeing first gas production\nin Hungary. The acquisition of Winslow Resources Inc. provided additional\ncapital resources, along with domestic drilling opportunities and production.\n\n\nDuring 2007, DualEx successfully completed its earning obligations in\nHungary's Nyirseg area, resulting in the Company having a 37.5% working\ninterest in the Nyirseg North and South Permits. First production from the\nPeneszlek field is expected in the second quarter of 2008 with the completion\nand tying-in of the PEN-104 well. The export pipeline has been successfully\ntested and the gas processing facilities are scheduled for delivery in April.\nThe PEN-104 well is anticipated to be brought on production shortly after\nfacility installation. In addition, the already drilled PEN-9 and PEN-12 wells\nare planned to be re-entered once the required wellbore permits have been\nobtained from the Hungarian government.\n\n\nThe acquisition of approximately 100 square km of 3-D seismic in the\nPeneszlek area is contemplated for the 2nd half of 2008. Upon completion, it\nis anticipated that several follow-up drilling locations may be identified.\n\n\nIn Syria, interpretation of DualEx's 2007 1105 kilometre 2-D seismic\nsurvey on Block 17 in the Palmyra region (in addition to a significant portion\nof the 2338 line kilometers of legacy data) has resulted in the generation of\nseveral potentially high impact prospects. The Company and its partners are\ncurrently in the process of ranking these prospects, with the aim of\ncommitting to a drilling rig for the second half of 2008, ...